Item 1.01 Entry into a Material Definitive Agreement
Effective November 18, 2009, Service Corporation International ("SCI")
entered into an Amended and Restated Revolving Credit Agreement (the "Amended
Credit Agreement"), by and among the lenders party thereto and JPMorgan Chase
Bank, N.A. as Administrative Agent for the lenders. The Amended Credit Agreement
(i) extends the maturity date of SCI's prior credit facility to November 28,
2013, (ii) increases the commitment amount to $400,000,000, (iii) increases the
interest rate for borrowings and letters of credit and the commitment fee for
any unused commitment, (iv) revises certain negative covenants, including those
related to permitted acquisitions, stock repurchases and dividend payments, to
provide SCI with more flexibility to engage in these activities, and (v) adjusts
the Leverage Ratio and the Interest Coverage Ratio financial covenants. A copy
of the Amended Credit Agreement is attached to this current report as
Exhibit 10.1 and is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant
The description contained under Item 1.01 above is incorporated by reference
in its entirety into this Item 2.03.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number Description
10.1 Amended and Restated Revolving Credit Agreement by and among the lenders
party thereto and JPMorgan Chase Bank, N.A. as Administrative Agent for
the lenders, dated as of November 18, 2009
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